SET to list GLAND Office Leasehold REIT on April 21

Stocks and Financial Services Press Releases Thursday April 20, 2017 14:07
Bangkok--20 Apr--SET
The Stock Exchange of Thailand (SET) will list GLAND Office Leasehold Real Estate Investment Trust worth THB 4.99 billion (approx. USD 142.79 million) on April 21, under the ticker symbol "GLANDRT".

SET Senior Executive Vice President Santi Kiranand said that GLANDRT would list and start trading on Property & Construction industry, Property Fund & REITs sector, on April 21. GLANDRT offered 499.77 million units at THB 10.00 each, for a total of THB 4.99 billion, to Grand Canal Land pcl (GLAND)'s benefactors and underwriters' benefactors during April 3-5, 2017; and to GLAND and/or relating parties and institutional investors during April 7 and 10-11, 2017. GLAND REIT Management Co., Ltd, a subsidiary of GLAND, is its REIT Manager. SCB Asset Management Co., Ltd. is its trustee, while Krung Thai Bank pcl and The Siam Commercial Bank pcl are its financial advisors and underwriters.

GLANDRT has invested in the leasehold rights of "The 9th Towers" office building area for 30 years and "Unilever House" office building area for 17 years and seven months. Both projects consist of office space for rent, including meeting rooms and all-purpose connecting space, with a total area of 126,173 square meters, having approximately 98 percent occupancy rate. The tenants are both Thai and multinational corporations in various businesses.

GLAND REIT Management Chairman General Niphon Pharunnit said GLANDRT has invested in the leasehold rights of grade B+ to A office buildings located on Rama 9 intersection, a prime location in Bangkok's new central business district, conveniently located near such public transportation as the MRT subway station, connecting to various main streets in Bangkok. This helps boost high occupation rate. Managed by GLAND group, a professional and experienced property developer, GLANDRT could increase investment value and provide good returns for the trust unit holders in the long run.

GLANDRT's dividend policy is to pay not more than four times a year at no less than 90 percent of the adjusted net profit of its financial year. GLANDRT's major unit holders after its IPO are Grand Canal Land pcl (15.00 percent), Bangkok Life Assurance plc (3.40 percent), FWD Life Insurance pcl (3.40 percent),Thai Insurance pcl (3.40 percent), and Dhipaya Life Assurance pcl (3.00 percent).

For more information on GLANDRT, please see the company's prospectus at the Securities and Exchange Commission's website at www.sec.or.th ; and for general information, please visit www.glandrt.com , as well as www.set.or.th.


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